The Global Dairy Trade (GDT) event held on September 3, 2024, showcased a mixed performance across various dairy products, reflecting the ongoing volatility in global dairy markets. The GDT index experienced a minor decline of 0.4%, marking a slight dip after three consecutive increases in previous sessions. Key products like whole milk powder (WMP) saw a decrease of 2.5%, while other products like skim milk powder (SMP) and mozzarella cheese recorded gains of 4.5% and 7.0%, respectively.
This event also featured the entry of Arla Foods, a major global dairy cooperative, into the GDT auction process, further emphasizing its expanding influence in the international dairy market. The fluctuating prices underscore the complex dynamics of supply and demand, with dairy farmers and industry stakeholders advised to closely monitor these trends for strategic decision-making.
Overall, the results highlight the importance of staying informed about global dairy market developments, as they present both challenges and opportunities for growth in the industry.
